H.R. 7857 · 118th Congress
Accurate Credit Reporting for Homebuyers Act
- Stage
- In committee
- Sponsor
- Scott Fitzgerald
- Introduced
- 2024-04-02
- Latest action
- 2024-04-02 · Introduced in House
Summary
Accurate Credit Reporting for Homebuyers Act
This bill requires lenders at government-sponsored enterprises (i.e., Fannie Mae and Freddie Mac) to obtain a borrower’s consumer report and credit score from all three of the national credit reporting agencies when purchasing a residential mortgage loan. Currently, lenders are allowed to use either two or three credit reports.